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Member You - General Colin Powell's Failure as Secretary of State Provides Valuable Lessons for Business Owners
The # 1 reason your business may not have the sales you would like is because you aren’t doing enough business with existing clients. The # 2 reason is you are probably not communicating with prospects in a way they can hear your message.It’s expensive to attract and sell someone new, but it only takes a fraction of that cost to continue doing business with an existing client. Without a balance between existing and new clients however, revenue results will be dismal.In the best case marketing attracts our ideal client. It can also attract an existing client by helping them understand how they can use our services again to reach a goal or solve a current problem that challenges them.All it takes is consistent communication. What do you ta
Lesson Three:
Successful businesses operate with business plans, projections and budgets. They also measure results against the plans so they know when, where, and how to make changes.
Any plan Powell would have made would have been doomed because he misunderstood the task. He decided to function as an advisor to the President (perhaps influenced by the Commander-in-Chief title he respected for his entire life) rather than as CEO of his “business”, the State Department. As a businessman, I would have defined success as convincing the President to
One of the essential elements for a small business owner to assess before starting a small business is to understand their market. This is crucial and the data that is collected will one determine how to appropriately price their products and/or service.Assessing a market helps small business owners define their goals, analyze their competition, and develop a unique selling proposition. Marketing research also assists in:*creating a primary and alternative sales approaches to a given market,* making profit projections from more accurate databases,* organizing marketing activities,* developing critical short- and mid-term sales goals and establishing the markets profit boundariesThere are specific questions that pote
Lesson One:
To succeed in any business - economic, academia, military, or political - you have to know yourself. You have to know what you like to do and what you are good at. If you find an opportunity you like, you will become better at it and ultimately really good at it. I think Colin Powell didn’t know himself or, if he did, he wouldn’t admit his strengths and weaknesses. This was probably his biggest problem.
First, his education and choice of service branch placed him at a severe disadvantage. The Army, in the sixties, did not produce the “best and the brightest” and CCNY and ROTC did not equal the Military Academies or even the Officers Training Schools. There is no mention of his participation in competitive sports at any point in his life and he certainly did not bring the overwhelming desire to “win,” magnified by sports, to any position he was given. The sports experience and success (if any) is one measure many use in evaluating an individual. Rumsfeld, as an All-American wrestler at Princeton, must have tested Powell early and found him easy to defeat. Cheney, having been Secretary of Defense when Powell was Chairman, may well have compared Powell’s education and training with what he had seen in others including the top executives he had employed while running a Fortune 500 company and found the General wanting.
Second, his ratio of time at a desk with time in the field was inverse (by a large margin) to what is normally required to achieve the rank of Four Star General. In addition, he had not been a commander with full responsibility and authority.
Third, while he may have been good at judging people who reported to him, he was lousy at judging Cheney, Rice, Rumsfeld and the President. In the book there is even an example of how he misjudged his commanding officer at a post. Said officer (whom Powell thought he was serving well) gave Powell a bad report, sufficiently bad to derail his promotion progress so that Powell thought of retiring.
Everyone should focus on what they like and do well, and they should know how they stack up against those they will have to work with and for - as well as how they got to where they are.
Lesson Two:
To be successful everyone must do a thorough analysis of what he or she is getting into. In business it’s called due diligence. The business owner has to do this prior to making any decision of consequence. Powell’s most glaring error was his speech at the UN. The error was the result of a failure to perform sufficient due diligence with regard to the sources of the “facts” behind the presence of WMD.
Lesson Three:
Successful businesses operate with business plans, projections and budgets. They also measure results against the plans so they know when, where, and how to make changes.
Any plan Powell would have made would have been doomed because he misunderstood the task. He decided to function as an advisor to the President (perhaps influenced by the Commander-in-Chief title he respected for his entire life) rather than as CEO of his “business”, the State Department. As a businessman, I would have defined success as convincing the President to d
So your business does its fair share of advertising, right? You run commercials on the radio and on TV. You post ads in the daily newspaper and in the weekly neighborhood tabloids. You have a quarter-page ad in the Yellow Pages and are listed in the Business section of the phone book. You have an Internet webpage and can be found on all the major search engines.Granted, most small businesses cannot advertise in all these ways. Advertising normally requires a significant financial investment, and volume advertising is typically out of reach of the typical small business. But you probably are advertising in some manner.Say you run a skin care product service. Perhaps your business’s phone number can be found in the phone book or on its webpage. P
Second, his ratio of time at a desk with time in the field was inverse (by a large margin) to what is normally required to achieve the rank of Four Star General. In addition, he had not been a commander with full responsibility and authority.
Third, while he may have been good at judging people who reported to him, he was lousy at judging Cheney, Rice, Rumsfeld and the President. In the book there is even an example of how he misjudged his commanding officer at a post. Said officer (whom Powell thought he was serving well) gave Powell a bad report, sufficiently bad to derail his promotion progress so that Powell thought of retiring.
Everyone should focus on what they like and do well, and they should know how they stack up against those they will have to work with and for - as well as how they got to where they are.
Lesson Two:
To be successful everyone must do a thorough analysis of what he or she is getting into. In business it’s called due diligence. The business owner has to do this prior to making any decision of consequence. Powell’s most glaring error was his speech at the UN. The error was the result of a failure to perform sufficient due diligence with regard to the sources of the “facts” behind the presence of WMD.
Lesson Three:
Successful businesses operate with business plans, projections and budgets. They also measure results against the plans so they know when, where, and how to make changes.
Any plan Powell would have made would have been doomed because he misunderstood the task. He decided to function as an advisor to the President (perhaps influenced by the Commander-in-Chief title he respected for his entire life) rather than as CEO of his “business”, the State Department. As a businessman, I would have defined success as convincing the President to
Marketing is a subject that's very often misunderstood by many of us who are not directly involved in it. There are many misconceptions around what marketing teams do, especially in relation to the art of selling. There are, however, some key things to understand that can help clear up this confusion considerably and will help in your every day understanding of what marketing and marketeers are actually all about and what they're trying to achieve.1. Marketing is not sales.Sales is the specific skill or act of closing a deal or brokering a customer's commitment to enter into a deal or make a purchase. The skillset for sales people can be considerably different from that of the marketeer, although a good appreciation of each discipline will h
Second, his ratio of time at a desk with time in the field was inverse (by a large margin) to what is normally required to achieve the rank of Four Star General. In addition, he had not been a commander with full responsibility and authority.
Third, while he may have been good at judging people who reported to him, he was lousy at judging Cheney, Rice, Rumsfeld and the President. In the book there is even an example of how he misjudged his commanding officer at a post. Said officer (whom Powell thought he was serving well) gave Powell a bad report, sufficiently bad to derail his promotion progress so that Powell thought of retiring.
Everyone should focus on what they like and do well, and they should know how they stack up against those they will have to work with and for - as well as how they got to where they are.
Lesson Two:
To be successful everyone must do a thorough analysis of what he or she is getting into. In business it’s called due diligence. The business owner has to do this prior to making any decision of consequence. Powell’s most glaring error was his speech at the UN. The error was the result of a failure to perform sufficient due diligence with regard to the sources of the “facts” behind the presence of WMD.
Lesson Three:
Successful businesses operate with business plans, projections and budgets. They also measure results against the plans so they know when, where, and how to make changes.
Any plan Powell would have made would have been doomed because he misunderstood the task. He decided to function as an advisor to the President (perhaps influenced by the Commander-in-Chief title he respected for his entire life) rather than as CEO of his “business”, the State Department. As a businessman, I would have defined success as convincing the President to
As the Caribbean looks for more ways to become competitive in the Free Trade Market, it’s important not to overlook people society labels as disabled. Disabled people possess valuable skills that can be utilized by almost any employer, but the key is to breakdown the negative barriers and misconceptions that have dominated the minds of mainstream culture.Quite frankly, the word disabled conjures up distorted images of people not able to function and that is inaccurate. That image is compounded by the fact that children are not educated and sensitized about these issues so they grow up thinking it’s O.K to make fun of or refer to the disabled with derogatory terms. That mindset does not change as that child becomes an adult and enters the workforce.<
Everyone should focus on what they like and do well, and they should know how they stack up against those they will have to work with and for - as well as how they got to where they are.
Lesson Two:
To be successful everyone must do a thorough analysis of what he or she is getting into. In business it’s called due diligence. The business owner has to do this prior to making any decision of consequence. Powell’s most glaring error was his speech at the UN. The error was the result of a failure to perform sufficient due diligence with regard to the sources of the “facts” behind the presence of WMD.
Lesson Three:
Successful businesses operate with business plans, projections and budgets. They also measure results against the plans so they know when, where, and how to make changes.
Any plan Powell would have made would have been doomed because he misunderstood the task. He decided to function as an advisor to the President (perhaps influenced by the Commander-in-Chief title he respected for his entire life) rather than as CEO of his “business”, the State Department. As a businessman, I would have defined success as convincing the President to
If you have ever had the pleasure of attending classes in the fine art of making sales, you will remember that a very important section is “Overcoming Objections.” In class the trainer gives students two lists; frequently used objections and scripted responses for each objection. The trainee is required to memorize the responses and parrot them back whenever the trainer throws out an objection. I attended this type of class in a previous career back when I was a door-to-door encyclopedia salesperson on summer vacation from college. Some vacation!Since then quite a few years have passed and, over time, I found there is a better way of overcoming objections than memorizing scripted responses. The better way is to eliminate those objections before
Lesson Three:
Successful businesses operate with business plans, projections and budgets. They also measure results against the plans so they know when, where, and how to make changes.
Any plan Powell would have made would have been doomed because he misunderstood the task. He decided to function as an advisor to the President (perhaps influenced by the Commander-in-Chief title he respected for his entire life) rather than as CEO of his “business”, the State Department. As a businessman, I would have defined success as convincing the President to do what I thought was right which would have elevated the State Department’s stature thus getting more business for the business. There was no mention of any definition of success or what his plan was to achieve it.
Powell also didn’t reflect on how the overwhelming resources he deployed as Chairman of the Joints Chief of Staff during the First Gulf War was what made him successful. He never expressed whether or not he could have replicated such resources in his new “business.” And, if he couldn’t get the resources, he should have considered what new tactics he would use to manage his “business” to success.
A business owner has to predict and measure results so as to decide what is needed and how to make changes when the results are not achieving the objectives.
Lesson Four:
He also failed at paying attention to the basic business elements. First, he didn’t market his proposals to the President. Powell gained no third party support and he just left the proposals on the table hoping that the President would recognize that he was “right.” In business this would be analogous to watching the phone waiting for it to ring. We all know you can’t “sell” what you haven’t marketed.
And he didn’t support his people. When they told him how Cheney and Rumsfeld were undermining the State Department’s efforts, thereby setting their business up to fail, he didn’t take action.
Every business owner has to pay attention to the basics.
Lesson Five:
As a business owner, you have to change strategies when something isn’t working. He should have realized that playing the “good soldier” wasn’t going to make him or his business successful. When he realized he couldn’t change the rules Cheney and Rumsfeld had set up, Powell had to innovate and figure a way to beat them at their own game. He needed to manipulate, cry “foul”, change the playing field, and take whatever action was necessary to convince the President he was right.
If the competition is offering no interest for 60 months - you better seriously consider doing the same, otherwise you will lose.
And finally, when he realized that he couldn’t convince the President to act as the State Department thought best, he should have taken himself out of the game. When the liabilities exceed the assets and there is no more capital available - and the man in charge won’t change the strategy, it’s time to fire the man in charge. If Powell couldn’t get the President to see that the State Department’s recommendations were correct, he should have preserved its position, not continue to squander its status.
It was time to cut the businesses’ losses so it would have a chance to start over
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